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Note 11 - Accounts Payable and Accrued Expenses

6 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

11. Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses at September 30, 2021 and March 31, 2021 consisted of the following (in thousands):

		*September 30, 2021*				*March 31, 2021*
Accounts payable		$	14,920			$	5,353
Accrued inventories in-transit			1,772				1,460
Accrued other miscellaneous expenses			2,993				2,369
Advanced deposits			1,479				1,035
Accrued compensation			3,932				7,018
Income taxes payable			640				522
Accrued product warranty			2,155				2,053
Total		$	27,891			$	19,810

The Company generally provides a one to three year warranty on its products, commencing upon delivery or installation where applicable. A provision is recorded upon revenue recognition to cost of revenues for estimated warranty expense based on historical experience.

Product warranty activity was as follows (in thousands):

		*Three Months Ended September 30,*								*Six Months Ended September 30,*
		*2021*				*2020*				*2021*				*2020*
Balance at beginning of period		$	2,187			$	2,168			$	2,053			$	2,015
Acquired warranty obligations			-				—				248				—
Change in accruals for warranties during the period			206				148				314				384
Settlements during the period			(238	)			(207	)			(460	)			(290	)
Balance at end of period		$	2,155			$	2,109			$	2,155			$	2,109